Daughter's Boston Job Offer

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gobucks4657
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Daughter's Boston Job Offer

Post by gobucks4657 »

My daughter majored in mechanical and biomedical engineering in college, graduating in May. She recently got a job offer for 68k in the Boston metro area. We are not familiar with the area but know that the cost of living is expensive. Is this salary reasonable for a new grad? Thanks
BW1985
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Re: Daughter's Boston Job Offer

Post by BW1985 »

gobucks4657 wrote: Tue Jan 28, 2020 2:44 pm My daughter majored in mechanical and biomedical engineering in college, graduating in May. She recently got a job offer for 68k in the Boston metro area. We are not familiar with the area but know that the cost of living is expensive. Is this salary reasonable for a new grad? Thanks
Any job offers in a LCOL area? That would give you something to compare against. Where are you from? Use a cost of living calculator to compare 68k in Boston to where you live to see what that would equate to. For example, making $44k in Cleveland is like making $68k in Boston.
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middistancerunner
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Re: Daughter's Boston Job Offer

Post by middistancerunner »

I lived on $30,000 per year as a grad student for five years, so... definitely doable. A lot will depend on whether she lives with a partner or roommate to keep housing costs reasonable. If she wants to live alone, she'll need to be willing to settle for a super tiny place or a longer commute.

As to whether it's reasonable... very tough to say without knowing a lot more about her and what's standard in her field. Seconding the other poster, the best way to compare is for her to obtain multiple offers, and see how they all stack up.

It sounds a little lower than the amounts that people who I went to undergrad with made straight out of school, but I went to a prestigious technical university where starting salaries for new grads were about as high as they get.
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Re: Daughter's Boston Job Offer

Post by Hypersion »

That seems low to me my internship almost 10 years ago paid that.
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Re: Daughter's Boston Job Offer

Post by Jack FFR1846 »

Where in the Boston area? Several companies have relocated from "the Boston area" in recent years to actual downtown Boston to capture recent grads of little local colleges. SimpliSafe and Sonos come to mind first, but there are several others. The reason is that many graduating students remain in the city or on subway lines because of the life inside Boston. If that's the case for her, she's going to want to find room mates and seek out a place not far out of town.

So after my long explanation, what city/town is she actually going to be working in?

Oh....and to add, with a son who will graduate in May with a BS in civil and has seen Mech Eng friends get jobs, $65k is in range, but on the low side. An example...a friend moved to Madison, WI (BSME) making $75k. Our best friend's son graduated 2 years ago with a BSME and works for Raytheon in the suburbs of Boston and started over $70k and is pushing $80k after 2 years. What college she graduated matters. All the above went to expensive, private colleges known for engineering (although none are MIT).
Last edited by Jack FFR1846 on Tue Jan 28, 2020 3:54 pm, edited 3 times in total.
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oldfatguy
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Re: Daughter's Boston Job Offer

Post by oldfatguy »

Wages for biomedical engineers in the Boston MSA:

10th% $55,930
25th% $71,390
50th% $94,510
75th% $119,530
90th% $155,990
Elysium
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Re: Daughter's Boston Job Offer

Post by Elysium »

$68K is pretty good for a a fresh graduate. Starting salaries almost don't matter, instead the work and company matters. If the work is good and the company has many interesting projects she can learn from and have experienced folks to interact with, then in a year or two she can build up the resume and salary will go up if she goes out back in the job market. That's how you increase salaries, by gaining experience, building up profile, networking, and negotiating better salaries at new jobs. At least in my industry this is how it works. Congratulations to her on landing a job and good luck!
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Re: Daughter's Boston Job Offer

Post by fittan »

I work in downtown boston. For a recent grad with no experience I think $68K is reasonable.
OnTrack2020
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Re: Daughter's Boston Job Offer

Post by OnTrack2020 »

I'm sorry, but I find this offer to be low----but only because it is in the Boston area.

I just went to a website to compare prices for living in our area (what would be considered LCOL/MCOL) and the prices for housing, transportation, utilities, health care, and groceries were considerably more, not just a little, but considerably more in the Boston area.

Our son is also graduating in May in the computer science area and will start a position making in the range of what your daughter is making, but lives in a less expensive area.

Is the salary reasonable for a new grad? Probably, because there really isn't much room for negotiation because she's straight out of college. Is it reasonable for Boston? I don't think so.

The good news is it's easier for young people to cut down on expenses when they are young by having roommates, etc. If it will be a good experience for her for a few years and she seems interested in the work, then she should give it a try. Is there any type of signing bonus, by chance?
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Re: Daughter's Boston Job Offer

Post by fru-gal »

Even in this day and age, she may be hitting a gender pay gap. I got hired by a Boston area company and 3-4 years later when I moved into management and had access to salary data, I found I'd been hired at about 1/3 less than the people I was now supervising.
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Re: Daughter's Boston Job Offer

Post by chw »

I would say the salary is reasonable for a recent grad in Boston with that degree. The main intangible is that I believe the Boston area will be able to offer her advancement opportunities in her field at a faster pace (either at the new company, or others) than most other markets. I would not base the job decision solely on cost of living.

Boston is a vibrant place to work for young tech oriented employees- if she’s inclined to make the move, I’d encourage her to do so.

I have lived in the Boston metro for over 60 years.
FrugalConservative
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Re: Daughter's Boston Job Offer

Post by FrugalConservative »

The salary is reasonable. But 68K in the Boston Metro unfortunately wont go very far, especially if she rents anywhere within a reasonable commuting distance to the city.
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Re: Daughter's Boston Job Offer

Post by nimish555 »

I feel the salary in Boston is on the lower side. I am in Baltimore and here the ongoing starting salary is around $66k. I would consider the cost of living in Boston at least $7-$10K more than Baltimore. Do you think she can negotiate? If thats the only job offer she has, I would take it. See how it goes for 2-3 years and then try to get a higher salary.
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Re: Daughter's Boston Job Offer

Post by Christine_NM »

Depends if she will get fast large raises in the next few years. 68k is fine for 1 year but no good if she wont get more rather quickly. I started with first job in Boston centuries ago and the first year was somewhat grim. Second and third year were OK with decent raises.

If she can do without a car and parking issues, life will be much easier.
Last edited by Christine_NM on Tue Jan 28, 2020 4:48 pm, edited 1 time in total.
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Re: Daughter's Boston Job Offer

Post by DVMResident »

IMO, the offer is low-to-normal for a new engineering grad (depending on GPA and training program). More important is Boston is a major hub for biomedical engineering. There will be lots of opportunity for additional schooling and job hopping.

I would focus on (1) skill growth, (2) location, and (3) networking opportunities.
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Re: Daughter's Boston Job Offer

Post by campy2010 »

Elysium wrote: Tue Jan 28, 2020 3:57 pm $68K is pretty good for a a fresh graduate. Starting salaries almost don't matter, instead the work and company matters. If the work is good and the company has many interesting projects she can learn from and have experienced folks to interact with, then in a year or two she can build up the resume and salary will go up if she goes out back in the job market. That's how you increase salaries, by gaining experience, building up profile, networking, and negotiating better salaries at new jobs. At least in my industry this is how it works. Congratulations to her on landing a job and good luck!
This! Furthermore, it's a fine salary for a new grad in Boston. She'll probably need a roommate or two and will have to watch her expenses. But most of her peers will be making much less.
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Re: Daughter's Boston Job Offer

Post by rowany »

Regardless of whether it's reasonable she should try negotiating for higher. It will pay off every year thereafter. The books "women don't ask" and "ask for it" are great books for any new grads.
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Re: Daughter's Boston Job Offer

Post by deikel »

A lot depends on what kind of company she applied for ? Is this a safe, large company around since 30 years and will be around for some time ?

Or is this some Boston medical start up that will go up in flames within 2 years or when funding runs out ?

That alone would be 10k difference in my mind

The salary itself seems OKish for a recent grad (MechE), maybe a bit on the lower end for a biomedial E and on the lower end for Boston in general.

5k more would have been more 'fair' IMO, but its a first job, so no sense to sweat it too much and rather tell them to expect more after a year and once they realize what a stellar worker they got, they should increase.

Also nothing wrong asking for 5k more upon satisfactory 6 month evaluation as a condition for acceptance of the offer. Makes it clear you know the market and still gives them what they currently want, with them being in the driver seat.
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Re: Daughter's Boston Job Offer

Post by NJ-Irish »

My large accounting firm pays new-hires 65k in Boston. Her salary looks to be on-par with many entry level positions in a major-metro such as Boston. I can’t comment on engineering specifically.

You should definitely encourage her to look for more offers to compare, and she probably has some limited flexibility to negotiate, But ultimately the company, culture, coworkers, location, advancement opportunities, and greater professional network are much more meaningful than an extra 5k.

Don’t trust the pay scale websites on the internet. Find a recruiting firm in her field in the Boston area and have her reach out and ask such questions, if anything.

She is way too young to be making a decision on LCOL vs HCOL areas. She can save that for her mid-career after she has the requisite experience to make an informed decision. At this stage she should be focused on building her professional skill set, defining her brand, and building a network. The LCOL stuff comes later.
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Re: Daughter's Boston Job Offer

Post by gr7070 »

$65k would seem to be a reasonable starting salary in typical COLAs. Boston being rather HCOL would have that $65k appear low.

That being said, I don't know Boston. It's possible that there's something about the Boston market and mechanical engineering that makes the starting ME jobs lower paid than expected. I doubt that's the case, but it's possible.

I'd disagree with the poster stating school matters greatly. I've never met a mechanical engineering manager that cares much either way on where an employee went to school.
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Re: Daughter's Boston Job Offer

Post by BanquetBeer »

That is low for a more expensive COL like Boston. From what I have seen, that is about the bottom of starting pay for an engineer anywhere.

Unless she graduated with a ~3.0 (or less) I would counter for something in the 70’s.

Difficult to say if you only have one offer though.
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Re: Daughter's Boston Job Offer

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Re: Daughter's Boston Job Offer

Post by BeneIRA »

1. Did your daughter negotiate and try to get that up a bit?
2. Is it a prestigious company or one of the top ones in the industry?

To Jack's point, the "Boston Area" is a wide area. I have heard that described from Norwood to Chelmsford and everything in between (that's about a 40 mile stretch of varying costs of living). If it's Newton or Waltham, which are very hot right now, there are some options in cheaper areas with a commute. If it is in the city, the options will be much more limited and will either require a long commute or a small place with roommates.
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Re: Daughter's Boston Job Offer

Post by ARoseByAnyOtherName »

gobucks4657 wrote: Tue Jan 28, 2020 2:44 pm My daughter majored in mechanical and biomedical engineering in college, graduating in May. She recently got a job offer for 68k in the Boston metro area. We are not familiar with the area but know that the cost of living is expensive. Is this salary reasonable for a new grad? Thanks
That’s a good salary for the area. Boston is a hotbed if biotech and health-tech companies, with those degrees if she works hard the sky’s the limit for her in the Boston area. (If she picks up a little software experience she will be unstoppable.)

That salary will be plenty for a 22 year old in the area so long as she finds a roommate situation for housing, and keeps track of her expenses and doesn’t let things go out of hand.

Best of luck to her!
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Re: Daughter's Boston Job Offer

Post by 1789 »

I would think so with an undergrad degree.
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Re: Daughter's Boston Job Offer

Post by stoptothink »

gr7070 wrote: Tue Jan 28, 2020 6:00 pm $65k would seem to be a reasonable starting salary in typical COLAs. Boston being rather HCOL would have that $65k appear low.

That being said, I don't know Boston. It's possible that there's something about the Boston market and mechanical engineering that makes the starting ME jobs lower paid than expected. I doubt that's the case, but it's possible.
I am not biomedical engineer (senior director in mid-size health company, most of my employers are biologists and chemists/chemical engineers), but my star employee did her undergrad in biomed and is starting her PhD in biotech at Johns Hopkins this fall - I know what I was able to pay her. As someone who is in upper management in a 4,000 employee STEM company in a MCOL area, the idea that $68k/yr for a recent grad with no experience is low is insane to me; that's ~20k more than I have ever been able to offer anybody in a similar situation. And a quick Google search suggests that $68k/yr is crazy high for new engineers in my area. Salary discussions on this board are generally a different world to me.
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gobucks4657
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Re: Daughter's Boston Job Offer

Post by gobucks4657 »

Thank you all for the replies. A couple extra points:
  • This is her first offer and has not started negotiating yet. It is still early in the semester and she is also interviewing elsewhere.
  • The company is well established (not a start-up).
  • Location is Waltham.
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Re: Daughter's Boston Job Offer

Post by Financologist »

Forget cost of living. She should focus only on pursuing the most stimulating career path at this point. Also, taking advantage of an opportunity to work in a great city seems like fun at this age. Help her set up up tax advantaged accounts and auto investments and call it a day.
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Re: Daughter's Boston Job Offer

Post by e5116 »

I agree with stoptothink. Salary discussions on this board are skewed. I actually studied BME undergrad too, graduated from a top 10 university, and my starting salary out of college was ~10k less in the DC area. Now, I guess it was almost 15 years ago so there's been inflation but $68k for a new grad? That's great! I agree that it's the experience and opportunities that are more important than getting an extra $5k at this point. At my current firm (HQ is Boston incidentally), we give starting salaries for fresh college grads in the 60s...
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Re: Daughter's Boston Job Offer

Post by Thegame14 »

that sounds like a great entyr offer!!!!
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Re: Daughter's Boston Job Offer

Post by simplesimon »

gobucks4657 wrote: Tue Jan 28, 2020 10:30 pm Thank you all for the replies. A couple extra points:
  • This is her first offer and has not started negotiating yet. It is still early in the semester and she is also interviewing elsewhere.
  • The company is well established (not a start-up).
  • Location is Waltham.
I can't answer if the salary is competitive for her field of engineering, but it's a little more than what I offer fresh grads in commercial banking. Can you tell us what the position is?

I'm very familiar with Waltham and the surrounding area and it's not going to be as expensive as trying to live in downtown Boston. She will probably need a car to get to work.
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Re: Daughter's Boston Job Offer

Post by wilked »

I’m an engineering manager for a biotech in Boston.

Couple questions:
Does she have any experience? Co op / internship? And is this biotech or is it med devices? Can you say the job title she is applying for?

It’s a low salary. I graduated twenty years ago ChemEng and that was my starting salary then.

If she has zero experience and she likes the company a lot I’d consider it but would almost mandate to herself to get a new job after 18 months or so
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Re: Daughter's Boston Job Offer

Post by BanquetBeer »

e5116 wrote: Tue Jan 28, 2020 10:42 pm I agree with stoptothink. Salary discussions on this board are skewed. I actually studied BME undergrad too, graduated from a top 10 university, and my starting salary out of college was ~10k less in the DC area. Now, I guess it was almost 15 years ago so there's been inflation but $68k for a new grad? That's great! I agree that it's the experience and opportunities that are more important than getting an extra $5k at this point. At my current firm (HQ is Boston incidentally), we give starting salaries for fresh college grads in the 60s...
$58k 15 years ago is about $78.5k today based on CPI and considering all the opinion the CPI hasn’t kept up with actual inflation suggests the equivalent offer should be more.

$80k today is a good offer but that is 18% more than what OPs daughter was offered.
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Re: Daughter's Boston Job Offer

Post by Juice3 »

BW1985 wrote: Tue Jan 28, 2020 3:29 pm Use a cost of living calculator to compare 68k in Boston to where you live to see what that would equate to. For example, making $44k in Cleveland is like making $68k in Boston.
Not sure what calculator you are suggesting. This one
https://smartasset.com/mortgage/cost-of ... calculator
Suggests the difference is between 22 and 32%. Or 53-58K for a CLE of 44K.

As others have suggested, this really only a minor point. More important are local opportunities. Ability to find angles, say live with parents in CLE. Plans on next job (or being a lifer) including how first job will help with next. City or Suburbs. Etc.
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Re: Daughter's Boston Job Offer

Post by mmmodem »

Here's an apples to oranges data point. I graduated with a BS and got a project engineering job paying $50k in Silicon Valley, CA in 2007. That would be ~$62k in 2020 dollars. Therefore, I would've been happy with $68k In a lower cost of living area.

I don't think I was underpaid. I thought my compensation was competitive for someone with no experience. Certainly, this amount wasn't enough to live comfortably in the area. Luckily, the raises came fast and swift.
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Re: Daughter's Boston Job Offer

Post by Jack FFR1846 »

gobucks4657 wrote: Tue Jan 28, 2020 10:30 pm Thank you all for the replies. A couple extra points:
  • This is her first offer and has not started negotiating yet. It is still early in the semester and she is also interviewing elsewhere.
  • The company is well established (not a start-up).
  • Location is Waltham.
Waltham is a good, less expensive pocket surrounded by ultra-expensive towns (Weston, Lexington, Newton). She'll easily find reasonable housing either right in Waltham (a lot of multi-family houses surrounding Rt 20) and just east in Watertown. There are also larger apartment complexes. If she's just south of 20/downtown Waltham, she could potentially find something walking distance and then everything she needs is also walking distance. If up on 128/Totten Pond Rd area, she'd need a car. I worked for 8 years in Waltham (Totten Pond Rd area).

My son is expecting an offer any day now (job is structural engineering which accepts either Civil or Mech). I'll let you know what it is when it comes in.
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Re: Daughter's Boston Job Offer

Post by Filife20Forty »

As others have mentioned, lots of housing options for a job in Waltham. Commute there can be pretty tough during rush hour if on 95/128 (or in general), so she may want to check out googlemaps / Waze travel estimates during rush hour periods to get a sense of commute from various locations.

Also, part of this decision will be unique to your daughter, and whether she prefers to live in the city (higher $, better social / potential professional networking opportunities, which I would value as a college grad moving into a new city - does she have friends/support network in Boston?), which goes along with higher cost of living than out in the burbs. A lot of the younger folks we've hired from outside the Northeast happily pay more to live in/close to the city for a few years to be able to develop a social network - think it's an underrated aspect of moving to a new location. Not saying it's impossible out in the burbs, just a point for consideration.
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Re: Daughter's Boston Job Offer

Post by 8foot7 »

stoptothink wrote: Tue Jan 28, 2020 9:54 pm
gr7070 wrote: Tue Jan 28, 2020 6:00 pm $65k would seem to be a reasonable starting salary in typical COLAs. Boston being rather HCOL would have that $65k appear low.

That being said, I don't know Boston. It's possible that there's something about the Boston market and mechanical engineering that makes the starting ME jobs lower paid than expected. I doubt that's the case, but it's possible.
I am not biomedical engineer (senior director in mid-size health company, most of my employers are biologists and chemists/chemical engineers), but my star employee did her undergrad in biomed and is starting her PhD in biotech at Johns Hopkins this fall - I know what I was able to pay her. As someone who is in upper management in a 4,000 employee STEM company in a MCOL area, the idea that $68k/yr for a recent grad with no experience is low is insane to me; that's ~20k more than I have ever been able to offer anybody in a similar situation. And a quick Google search suggests that $68k/yr is crazy high for new engineers in my area. Salary discussions on this board are generally a different world to me.
This. More than a reasonable salary offer, it's an excellent salary offer for someone with essentially no practical experience. What a great base to work from.
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Re: Daughter's Boston Job Offer

Post by Nowizard »

Consider all things such as her motivation to move up, wanting to live in a large, vibrant area versus a less vibrant one, how easily she makes friends, etc. Yes, COL as it relates to income is crucial, but not the total issue. Taking her time could be very beneficial, particularly if this is a first actual offer. If she received an offer in Boston, she can reasonably expect offers in other areas as well since Boston is a highly educated area that probably has a number of qualified applicants for most professional jobs.

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Re: Daughter's Boston Job Offer

Post by Colorado13 »

That seems like a low offer, but it will depend on the prestige of her university/what salary levels are typical for grads from her university. The university's career center will publish starting salaries, by major, so your daughter can use that information as a ballpark figure. Have her do her own research - she will learn a lot by doing so. I worked with STEM students for many years and know that salaries can be very regional and company/industry-specific. Good luck.
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Re: Daughter's Boston Job Offer

Post by Jack FFR1846 »

As an aside, if she wants to pursue an advanced degree, Brandeis and Bentley are both in Waltham. And of course another 20 or 30 other colleges within about a 20 mile radius.
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Re: Daughter's Boston Job Offer

Post by BW1985 »

Juice3 wrote: Wed Jan 29, 2020 7:02 am
BW1985 wrote: Tue Jan 28, 2020 3:29 pm Use a cost of living calculator to compare 68k in Boston to where you live to see what that would equate to. For example, making $44k in Cleveland is like making $68k in Boston.
Not sure what calculator you are suggesting. This one
https://smartasset.com/mortgage/cost-of ... calculator
Suggests the difference is between 22 and 32%. Or 53-58K for a CLE of 44K.

As others have suggested, this really only a minor point. More important are local opportunities. Ability to find angles, say live with parents in CLE. Plans on next job (or being a lifer) including how first job will help with next. City or Suburbs. Etc.
I used two different ones, Nerdwallet and cnnMoney. Both had them $68k in Boston = $43k in Cleveland, which sounds about right to me having lived both on the east coast and in the midwest.
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BW1985
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Re: Daughter's Boston Job Offer

Post by BW1985 »

Elysium wrote: Tue Jan 28, 2020 3:57 pm $68K is pretty good for a a fresh graduate. Starting salaries almost don't matter, instead the work and company matters. If the work is good and the company has many interesting projects she can learn from and have experienced folks to interact with, then in a year or two she can build up the resume and salary will go up if she goes out back in the job market. That's how you increase salaries, by gaining experience, building up profile, networking, and negotiating better salaries at new jobs. At least in my industry this is how it works. Congratulations to her on landing a job and good luck!
I think starting salary matters a ton because its the starting point of all salaries moving forward. Every recruiter that has ever contacted me has always asked what my current salary is during the first conversation.

I've found that companies usually have a range for their open role but they will often make you an offer just enough above your current salary to be enticing, so it snowballs. Let's say you make $70k, next employer has a role paying $70-90k, they offer you $77k (10% raise over your 70k) but if you were making $80k they might offer $88k, for the same role. This has been my experience in the corporate world.
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Re: Daughter's Boston Job Offer

Post by wrongfunds »

stoptothink wrote: Tue Jan 28, 2020 9:54 pm
gr7070 wrote: Tue Jan 28, 2020 6:00 pm $65k would seem to be a reasonable starting salary in typical COLAs. Boston being rather HCOL would have that $65k appear low.

That being said, I don't know Boston. It's possible that there's something about the Boston market and mechanical engineering that makes the starting ME jobs lower paid than expected. I doubt that's the case, but it's possible.
I am not biomedical engineer (senior director in mid-size health company, most of my employers are biologists and chemists/chemical engineers), but my star employee did her undergrad in biomed and is starting her PhD in biotech at Johns Hopkins this fall - I know what I was able to pay her. As someone who is in upper management in a 4,000 employee STEM company in a MCOL area, the idea that $68k/yr for a recent grad with no experience is low is insane to me; that's ~20k more than I have ever been able to offer anybody in a similar situation. And a quick Google search suggests that $68k/yr is crazy high for new engineers in my area. Salary discussions on this board are generally a different world to me.
I presume as a director of this company your compensation is in low hundreds?

HECK NO! You make similar to what other senior director in mid-size health company would be making which is more likely to be three times that number. When you compare your compensation, you don't look at fly over zone companies only.

This does rub me the wrong way when I see a higher up throwing "comparative compensation" to lower level rank employees.
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simplesimon
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Re: Daughter's Boston Job Offer

Post by simplesimon »

BW1985 wrote: Wed Jan 29, 2020 10:08 amI think starting salary matters a ton because its the starting point of all salaries moving forward. Every recruiter that has ever contacted me has always asked what my current salary is during the first conversation.

I've found that companies usually have a range for their open role but they will often make you an offer just enough above your current salary to be enticing, so it snowballs. Let's say you make $70k, next employer has a role paying $70-90k, they offer you $77k (10% raise over your 70k) but if you were making $80k they might offer $88k, for the same role. This has been my experience in the corporate world.
This is true, which is why I'd encourage people to redirect the recruiter's question and say what they'd like to get paid (assuming the person knows that the market is paying and is being reasonable). Most recruiters don't keep pressing after this. I've gotten very large jumps as a result.
oilrig
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Re: Daughter's Boston Job Offer

Post by oilrig »

I dont think Ive seen this mentioned, but has she asked her classmates/friends about their starting salaries? Typically classmates will compare their offers to make sure everyone is getting paid the market rate. That should let her know how her offer compares to other companies in the area.

I work in HR and her offer sounds fair to me, not a crazy good offer, but a fair one. In my world (oil/gas, chemicals) engineers start out around $85-100k/year. In Tech, Engineers start out around $100-150k+/year. Every industry is different, but theres so many variables to consider here such as: prestige of her school, GPA, class rank, internships, location, industry etc.
Last edited by oilrig on Wed Jan 29, 2020 11:14 am, edited 1 time in total.
quantAndHold
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Re: Daughter's Boston Job Offer

Post by quantAndHold »

For a new grad with a bachelors degree, this sounds like a good solid offer.

Forget the salary comparator and working in Cleveland or anything like that. She’s got a good offer in a location where there is a lot of opportunity for the type of work she wants to do. Most LCOL places also have fewer companies that will want to hire her, either now or down the road. When she inevitably wants to change jobs, there will be other good paying opportunities available on route 128. There is also lots of opportunity to get a high quality graduate degree there if that’s what she wants.

As far as starting salary, established companies that hire new grads have a pretty fixed pay scale for the new grads. Degree + GPA + quality of school gets plugged into a formula, and a salary comes out. She should certainly try to negotiate, but I wouldn’t expect much to come of it.
Yes, I’m really that pedantic.
Miguelito
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Re: Daughter's Boston Job Offer

Post by Miguelito »

oilrig wrote: Wed Jan 29, 2020 10:43 amEvery industry is different, but theres so many variables to consider here such as: prestige of her school, GPA, class rank, internships, industry etc.
Agreed. And the role matters a lot as well. You can be a mech engineer, but even in the same company, one working in product development/R&D may well get paid more than someone supporting manufacturing or doing testing.
Jags4186
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Re: Daughter's Boston Job Offer

Post by Jags4186 »

BW1985 wrote: Wed Jan 29, 2020 9:57 am
Juice3 wrote: Wed Jan 29, 2020 7:02 am
BW1985 wrote: Tue Jan 28, 2020 3:29 pm Use a cost of living calculator to compare 68k in Boston to where you live to see what that would equate to. For example, making $44k in Cleveland is like making $68k in Boston.
Not sure what calculator you are suggesting. This one
https://smartasset.com/mortgage/cost-of ... calculator
Suggests the difference is between 22 and 32%. Or 53-58K for a CLE of 44K.

As others have suggested, this really only a minor point. More important are local opportunities. Ability to find angles, say live with parents in CLE. Plans on next job (or being a lifer) including how first job will help with next. City or Suburbs. Etc.
I used two different ones, Nerdwallet and cnnMoney. Both had them $68k in Boston = $43k in Cleveland, which sounds about right to me having lived both on the east coast and in the midwest.
Except that companies don’t payscale dollar for dollar for every metro area. I make the same in New Jersey that a person with my exact title at my company makes in Florida.

That said, I think $68k for a non-finance new grad is an excellent salary. I don’t understand where folks think all these new grads are making $80k+.

https://www.cnbc.com/2018/09/14/startin ... he-us.html

I don’t know where OPs daughter went to school, but median MIT grads are only starting at $78k and they probably are going to companies that people who went to “regular” schools won’t even get an interview at or even know exist.
BW1985
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Re: Daughter's Boston Job Offer

Post by BW1985 »

Jags4186 wrote: Wed Jan 29, 2020 11:02 am
BW1985 wrote: Wed Jan 29, 2020 9:57 am
Juice3 wrote: Wed Jan 29, 2020 7:02 am
BW1985 wrote: Tue Jan 28, 2020 3:29 pm Use a cost of living calculator to compare 68k in Boston to where you live to see what that would equate to. For example, making $44k in Cleveland is like making $68k in Boston.
Not sure what calculator you are suggesting. This one
https://smartasset.com/mortgage/cost-of ... calculator
Suggests the difference is between 22 and 32%. Or 53-58K for a CLE of 44K.

As others have suggested, this really only a minor point. More important are local opportunities. Ability to find angles, say live with parents in CLE. Plans on next job (or being a lifer) including how first job will help with next. City or Suburbs. Etc.
I used two different ones, Nerdwallet and cnnMoney. Both had them $68k in Boston = $43k in Cleveland, which sounds about right to me having lived both on the east coast and in the midwest.
Except that companies don’t payscale dollar for dollar for every metro area. I make the same in New Jersey that a person with my exact title at my company makes in Florida.

That said, I think $68k for a non-finance new grad is an excellent salary. I don’t understand where folks think all these new grads are making $80k+.

https://www.cnbc.com/2018/09/14/startin ... he-us.html

I don’t know where OPs daughter went to school, but median MIT grads are only starting at $78k and they probably are going to companies that people who went to “regular” schools won’t even get an interview at or even know exist.
Nope, they don't, so you're effectively making less money after accounting for COL. If that's okay with you then great. It's definitely something to consider though especially when you're comparing job offers. When I got my first job offer out of college it was on the east coast for $55k/year, being from the midwest I thought that was so much money, when I got there I realized it didn't go nearly as far. Eventually I moved back to the midwest and kept the same salary, which is why I do think it pays to go with the highest salary you can get early on in your career.

Coincidentally, my $55k starting salary in 2008 is equal to $67k in 2020 after accounting for inflation.

I think $68k in most areas of the country is an excellent starting salary, but in places like Boston I would say it's okay/average.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?
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